Key Takeaways
- Shares of energy drink maker Celsius jumped on Wednesday morning ahead of an earnings report and a presentation from executives.
- Analysts have stayed bullish on the company despite a sharp drop in share price from the record levels it set early last year.
- On Tuesday, Celsius said its fourth-quarter results will be released after the bell Thursday.
Shares of energy drink maker Celsius Holdings (CELH) jumped on Wednesday morning, ahead of the company’s latest earnings report and a presentation from executives at a conference.
While there is no clear financial reason for the premarket move like a new earnings report or regulatory filing, the move is in line with analysts’ thoughts on the company.
Despite its 65% drop in the last 12 months, analysts have remained bullish on the stock. Brokers tracked by Visible Alpha have eight “buy” and four “hold” ratings, with an average price target of $38.91, more than 70% above Celsius’ Tuesday closing price.
After the bell Tuesday, Celsius said it would announce its fourth-quarter results on Thursday afternoon. The company also announced that three of its executives are presenting at the Consumer Analyst Group of New York conference on Friday morning. Analysts expect sales of $325.5 million for the quarter, and earnings of $0.15 per share, according to estimates compiled by Visible Alpha.
Celsius shares were up around 5% Wednesday morning, and entered the day near their lowest point since July 2022.